Debt crisis in developing countries weighing down SDG push, Rwanda’s Kagame warns
(United Nations News) In his address to the UN General Assembly in New York, Rwandan President Paul Kagame discussed the lack of progress toward achieving Sustainable Development Goals (SDGs), reducing conflict around the globe, and finding ways to boost international cooperation.
The SDG summit held in New York earlier this week highlighted the disappointing progress made toward achieving the UN’s 17 SDG goals by 2030, said Mr. Kagame.
He commended the Secretary-General’s focus on the issue and emphasized that slow progress toward achieving SDGs would exacerbate economic disparities between countries.
“This year’s SDG Summit has once again raised alarm about the slow pace of SDG implementation,” he said.
“Developing countries are constrained by a debt crisis including higher costs of borrowing. This is causing economic disparities to widen and is slowing down collective progress to SDGs.”
The primary cause of the debt crisis, Mr. Kagame argued, was high interest rates in developed economies in reaction to global inflation.
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Source: CARICOM TODAY